In addition to introducing its new consumer security OTP feature, GCash also partnered with the GSafeTayo cybersecurity which is aimed to help protect GCash users from e-fraud and scams.
Recently, GCash and the Philippine National Police struck an agreement to increase their cooperation in pursuing those responsible for online fraud, e-scams, fishing, phishing, and other cybercrimes that prey on GCash customers. This is one of GCash’s initiatives to address the growing cybercrime problem that has recently affected Filipinos.
Recently, GCash and the Philippine National Police struck an agreement to increase their cooperation in pursuing those responsible for online fraud, e-scams, fishing, phishing, and other cybercrimes that prey on GCash customers. This is one of GCash’s initiatives to address the growing cybercrime problem that has recently affected Filipinos.
In addition to deleting any clickable links from its official SMS and emails to users, Gcash also moved transaction notification messages to the in-app inbox and masked the names of transfer money receivers.This is meant to help users in differentiating between legitimate and fraudulent messages.
During the press conference, GCash announced a new “double authentication” function, which the business claims will ensure that only the account owner has the capacity to link his GCash account with a specific device.
There will be 4 additional steps during the login process:
Step 1 – Enter GCash Mobile Number
Step 2 – Key in OTP once received
Step 3 – Enter the MPIN
Step 4 – Take a Selfie Scan
By combining user education, increased collaboration with law enforcement, and constant internal security platform upgrades, GCash is undertaking a campaign to minimize fraud cases.
It’s yet unclear whether or not the new Dual Authentication system based on biometrics will help to a reduce scams but it could definetly help.
